Yageo Corp (國巨), one of the world’s top three suppliers of passive components, yesterday said it is to launch a tender offer to fully acquire Japan’s Shibaura Electronics Co for up to ￥65.57 billion (US$429.37 million), with an aim to expand its sensor business.
The tender offer would be a crucial step for the company to expand its sensor business, Yageo said.
Shibaura Electronics is the world’s largest supplier of thermistors, with a market share of 13 percent, research conducted in 2022 by the Japanese firm showed.
Photo: CNA
If a deal goes ahead, it would be the second acquisition of a sensor business since Yageo purchased France-based Schneider Electric’s sensor unit in November 2023 for about 723 million euros (US$753.1 million at the currect exchange rate) as part of efforts to transform itself into a supplier of premium passive components.
Sensor business accounts for a small part of Yageo’s revenue, making up 9 percent in the third quarter of last year.
Thermistors are temperature-dependent resistors. Shibaura Electronics’ products are used in a wide variety of applications from vehicles, home appliances and medical devices to industrial equipment, the company’s Web site showed.
Yageo offered to buy Shibaura Electronics shares at ￥4,300 each, representing a 37 percent premium compared with the company’s share price of ￥3,141 on Tuesday in Tokyo, the company said in a statement.
The public tender offer would begin on May 7 through its wholly owned Japanese subsidiary, Yageo Electronics Japan, it said.
In the meantime, the firm would seek regulatory approval, it added.
Yageo expects to wrap up the deal in the third quarter of this year, it said in a separate statement submitted to the Taiwan Stock Exchange yesterday.
It hopes to acquire all 15.25 million common shares of Shibaura Electronics, but the tender offer would succeed if it meets the minimum acquisition number of 7.62 million shares, or approximately 50 percent of the planned acquisition, the statement said.
Shibaura Electronics has 4,800 employees worldwide, with annual revenue of ￥32 billion, the statement said.
Yageo hires more than 40,000 workers globally with annual revenue topping US$4 billion as a result of multiple merger-and-acquisition agreements.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
RSS